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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Google Maps edit tools come to UK

Category : Business

Google launches its Map Maker tools in the UK to make it easier for users to add missing details or fix errors in its online maps.

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Prudential Regulation Authority urged to rein-in banks’ proprietary trading

Category : Business

MP Andrew Tyrie wants newly formed PRA to ask banks to publish risk exposure taken by traders and report to parliament

The Bank of England is under pressure from parliamentarians to crack down on banks that use their own money to take potentially risky bets on the financial markets.

On only his second day at the helm of the new Prudential Regulation Authority inside the central bank, Andrew Bailey faces questions on how he would monitor proprietary trading.

In a letter from Andrew Tyrie, the Conservative MP who chairs the parliamentary commission on banking standards, Bailey was reminded of the findings of the commission’s report into ‘prop trading’. The report fell short of calling for a US-style Volcker rule banning some elements of trading, but said that the PRA should ask banks to publish the risk exposures taken by their traders, with the regulator then reporting to parliament each year on the scale of the activities.

“We concluded that proprietary trading is not a suitable activity for UK-headquartered banks to engage in, due to both the prudential and cultural risks it carries,” Tyrie said in the letter. “However, we also concluded that it would not be appropriate to attempt immediate legislative prohibition of such activity.

“Instead we recommended that the PRA should monitor indicators of whether banks appear to be engaging in proprietary trading,” Tyrie said, although he raised the prospect of a Volcker rule being introduced in the future.

The PRA should “bear down” on any such trading by demanding banks hold more capital against those activities or be prohibited from conducting such trading through “variations of permission” by the new regulator, Tyrie said.

He also asked Bailey whether any legislative changes were needed to enable the PRA to demand that banks report the extent of their trading activities.

The banks that appeared before the commission said they were not currently involved in proprietary trading. “The PRA must exercise its judgment. It should hold the banks to their word. If the PRA concludes, after a period, that it lacks the authority or the tools to carry out this work, it should make clear to parliament where the current legislation or tools fall short,” Tyrie said.

The PRA, which has taken over banking regulation from the now disbanded Financial Services Authority, said: “The PRA and its board will be considering the details of the letter and will be responding to the committee directly in due course regarding this important issue.”

Wavefront Technology Solutions, Inc. (WFTSF: OTC Link) | Wavefront Annouces First Quarter 2013 Financial Results

Category : World News

WAVEFRONT ANNOUNCES FISCAL FIRST QUARTER 2013 RESULTS

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Facebook unveils social search tools

Category : Business, World News

Social networking giant Facebook unveils tools that let users search through all the information their friends have shared.

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Fraud email key phrases revealed

Category : World News

The most common phrase used by fraudsters in emails is “cover up”, according to new research developed partially using tools from the FBI.

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Engineering Software Lab Joins Objectivity Global Partner Program to Bring InfiniteGraph’s Big Data Connection Platform to Israel

Category : Stocks

The Israeli Center for Software Engineering Development Tools to Showcase the Power of Real-Time, Distributed, Graph Analytics to Solve Big Data Problems

Link: Engineering Software Lab Joins Objectivity Global Partner Program to Bring InfiniteGraph’s Big Data Connection Platform to Israel

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BlackBerry 10 Developer Program Updated

Category : World News

Tools updates, new rewards, hardware opportunities, and revenue commitments to help drive further momentum among developers

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Prudential Georgia Realty Launches New Website

Category : Stocks, World News

New Prudential Georgia Realty Site Offers Powerful Tools for Consumers to Buy and Sell Real Estate

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Tely Labs Dials Up New Video Conferencing Solution for Business With Strategic Investments From Comcast Ventures and Rogers Venture Partners

Category : World News

First Enterprise-Class Video Conferencing That Is Easy-to-Use and a Fraction of the Cost of Conventional Telepresence Systems: Multi-Party Video Calling and Collaboration Tools Ideal for Small and Medium Businesses

First Enterprise-Class Video Conferencing That Is Easy-to-Use and a Fraction of the Cost of Conventional Telepresence Systems: Multi-Party Video Calling and Collaboration Tools Ideal for Small and Medium Businesses

The rest is here: Tely Labs Dials Up New Video Conferencing Solution for Business With Strategic Investments From Comcast Ventures and Rogers Venture Partners

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Nokia expands Asha Touch range to offer consumers smarter Internet experiences

Category : Stocks, World News

JAKARTA, INDONESIA–(Marketwire – Sep 25, 2012) – The Nokia Asha 308 and Nokia Asha 309
deliver a full smartphone experience enriched with new Nokia web services and
developer tools

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